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Microcap & Penny Stocks : JAWS Technologies - NASDAQ (NM):JAWZ -- Ignore unavailable to you. Want to Upgrade?

To: Mstrego who wrote (2600)	10/28/1999 2:07:00 AM
From: Charles Broderick	Respond to of 3086

Bless you and thanks! I had diff getting into it! Could you give me the bottom line(s) from it? Please, Thanks a bunch!!

To: Mstrego who wrote (2600)	10/28/1999 3:38:00 PM
From: Mstrego	Read Replies (1) \| Respond to of 3086

From the 10SB12G Filing Date: Sep 1 1999 - JAWZ and Y2k See if you can guess why Im posting this part of the message... HINT: It reiterates my belief in the success of FLNK and how it affects our company - see RB Post ragingbull.com ============ Excerpt From : JAWS TECHNOLOGIES INC /NY Form Type: 10SB12G Filing Date: Sep 1 1999 (snip) YEAR 2000 COMPUTER ISSUES JAWS, as well as its customers and suppliers and the financial institu-tions and governmental entities with which it deals, utilize information systems that will be affected by the date change to the year 2000. Many of these systems, if not modified or replaced, will be unable to properly recognize and process date-sensitive information before, on and after January 1, 2000. STATE OF READINESS In July, 1998, JAWS organized a year 2000 project team to assess the impact of the year 2000 issue on its operations, develop plans to address the issue and implement compliance. The project team developed a company-wide, year 2000 remediation plan which consists of a ten-step process to examine JAWS' own system and those which JAWS estimated may adversely affect JAWS' systems: in-house computer equipment; outside supported network equipment; bandwidth providers; in-house software; outside supported network software; contractors; in-house auxiliary equipment; physical plant; suppliers; and liability. For each of the above-listed systems, JAWS' approach toward becoming year 2000 compliant has been as follows: (1) In-house computer equipment: Since inception, JAWS has insisted that all new equipment purchased be certified to be year 2000 compliant. JAWS has not dealt with legacy equipment for internal use and will only purchase computer equipment produced by year 2000 compliant manufacturers. (2) Outside supported network equipment: JAWS has limited its outside resource affiliations to one company. FutureLink Distribution Corporation maintains JAWS' network system. JAWS has requested a full report from this company relative to their compliance. (3) Bandwidth providers: JAWS has limited its bandwidth provider to FutureLink Distribution Corporation. (4) In-house software: JAWS' own products have been carefully scrutinized for compliance. JAWS believes that all in-house software products developed by JAWS meet are year 2000 compliant. (5) Outside support network software: JAWS relies on FutureLink Distribution Corporation for all outside software needs with the strict mandate to only supply year 2000 compliant support software. A full report has been requested from FutureLink. (6) Contractors: No contractors have been engaged to perform programming work. Due to the nature of JAWS' product line, strict controls are followed to ensure no outside contractors have access to JAWS' systems, designs and programming. (7) In-house auxiliary equipment: All auxiliary equipment used and owned by JAWS is less than 12 months old, including phone systems, printers and photocopiers. JAWS has requested year 2000 compliance certificates from each manufacturer. (8) Physical plant: JAWS currently leases office space in the downtown core of Calgary, Alberta. A notice requesting year 2000 compliance has been delivered to the landlord. (9) Suppliers: All critical stock items will be in stock prior to the beginning for the year 2000 thus eliminating inventory pressure for the first quarter of 2000. (10) Liability: JAWS has received definitive answers from all insurance carriers with the common consensus that no liability is covered under JAWS' current policies. JAWS believes that it has reduced its risk to levels that they do not warrant additional or special insurance at this time. ESTIMATED COST OF REMEDIATION JAWS currently estimates total year 2000 expenditures at approximately $25,000 of which approximately $5,000 has been expended as of September 30, 1998, to make the required year 2000 modifications and replacements to its own systems. All modification and maintenance costs, including costs to replace embedded technology that does not significantly extend the life or improve the performance of the related asset are expensed as incurred. Costs to purchase new hardware and software and to replace embedded technology that does significantly extend the life or improve the performance of the related asset are capitalized and depreciated over the assets' useful lives. All of these costs are being funded through internal cash flow. The estimated total remediation cost does not include any expenditures that may be incurred in connection with the implementation of the contingency plans, discussed below. MOST REASONABLY LIKELY WORST-CASE SCENARIO JAWS currently believes that it will be able to modify or replace its own affected systems in a timely fashion and minimize detrimental effects on its operations; however, JAWS' ability is subject to timely assistance by the vendors of the process-control systems. JAWS has received written assurances from some, but not all, third parties with respect to their own systems year 2000 issues and is not in a position to reliably predict whether third parties will experience remediation problems. If JAWS or major third parties fail to successfully address the year 2000 issue, there could be a material adverse impact on the business and results of operations of JAWS. JAWS has not determined the most reasonable worst-case scenario that could result from any failure by JAWS or third parties to resolve the year 2000 issue. JAWS will consider this matter in connection with its development of contingency plans, discussed below. However, the scenario could include a temporary curtailment or cessation of operations at JAWS' facilities, and a resulting loss of production, safety and environmental exposure and a temporary inability on the part of JAWS to process orders and deliver finished software products to customers on a timely basis are also concerns relating to a worst case scenario. CONTINGENCY PLANS JAWS' year 2000 efforts have been devoted primarily to the readiness program described above. JAWS has not yet developed contingency plans to address and mitigate the potential risks associated with the most reasonable worst-case scenario. JAWS' year 2000 program is an ongoing process of evaluation and planning. Estimates of remediation costs, completion dates as well as projections of the possible effects of any non-compliance, are subject to change. JAWS has not conducted a systematic evaluation of the year 2000 compliance of its vendors and customers. As a result, it is possible that JAWS' future performance may be adversely impacted by payment and financial difficulties experienced by customers, and/or by shipping fulfillment and accounting difficulties experienced by vendors. JAWS believes that it has sufficient resources, including cash reserves and inventory supplies, to maintain operations during delays in payments or supplies of inventories. JAWS is aware that extended difficulties by larger vendors may have a significant impact; however, it is unable at this time to anticipate the extent of any impact were it to occur. (snip) eom edgar-online.com